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Should the EUR/USD be higher this morning?

Since recovering from a new 2024 low at 1.0695 last week, the EUR/USD has yet to reclaim the 1.08 handle. The EUR/USD stalled around 1.0785 on Thursday and Friday and closed the week at 1.0777 on Friday. It has remained in a tight range so far today, despite the drop below 150 in the USD/JPY. The high seen so far today has been set at 1.0789. The drop back in the EUR/JPY has been a driver for the lack of further traction in the EUR/USD. There can be little doubting the dollar has relatively underperformed the latest economic news to greet it and also the rebound in US yields. So, the USD index (USDX) has failed to reclaim that 105 handle. So, under such circumstances it seems a little surprising that the Euro has not yet managed to capitalise on that more than it has. Perhaps it will, but so far it has been a grind higher in the EUR/USD. It is just now trading at 1.0786

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